Alberta small business confidence dips in October

One-in-four business owners expect to cut back full-time positions this quarter

CALGARY, October 25, 2018 – The monthly Business Barometer® index for Alberta dipped slightly in October according to the Canadian Federation of Independent Business (CFIB). Small business confidence decreased 1.7 points this month to 53.1, putting it 7.4 points below the national average (60.5).

Measured on a scale between 0 and 100, an overall index level between 65 and 75 normally indicates that the economy is growing at its potential and a majority of owners expect their business’s performance to be stronger in the next year.

The percentage of business owners looking to increase full-time employment positions went up by 2 points compared to last month, reaching 11 per cent; however, those looking to cut back on positions went up by 6 points compared to last month, to sit at 24 per cent.

“Small business confidence has dipped a bit this month,” said Amber Ruddy, Director Provincial Affairs, Alberta. “Many seem to suggest that tough times are behind us, but business owners clearly still have apprehensions about the current state of affairs.” added Ruddy.

Business owners in Alberta are feeling slightly less optimistic this month, as the indicator describing business health shows: 23 per cent describe their firms as being in good health, 54 characterize it as satisfactory, and 23 per cent say it as bad.

October 2018 findings are based on 655 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Data reflect responses received through October 15. Findings are statistically accurate to +/- 3.8 per cent 19 times in 20.